An investigation on behalf of investors of LinnCo LLC (NASDAQ:LNCO) shares was announced and LinnCo LLC (NASDAQ:LNCO) stockholders should contact the Shareholders Foundation at email@example.com
San Diego, CA -- (SBWIRE) -- 10/15/2013 -- An investigation on behalf of investors who purchased their LinnCo LLC (NASDAQ:LNCO) in the LinnCo’s initial public offering (“IPO”) on October 12, 2012, was announced concerning whether LinnCo LLC violated Federal Securities Laws.
Investors who are current long term investors in LinnCo LLC (NASDAQ:LNCO) shares, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm for investors who purchased their LinnCo LLC (NASDAQ:LNCO) stocks in the IPO on October 12, 2012 follows a lawsuit against LinnCo LLC. According to the complaint the plaintiff alleges that the defendants violated Sections 11 and 15 the Securities Act of 1933 by issuing allegedly materially false and misleading IPO Registration Statement.
On Oct. 2, 2012 LINN Energy, LLC announced that LinnCo, LLC, a wholly-owned subsidiary of LINN Energy, has commenced an initial public offering of 30,250,000 common shares representing limited liability company interests in LinnCo. On Oct. 11, 2012 LINN Energy, LLC announced the pricing of the initial public offering of 30,250,000 common shares of LinnCo, LLC at $36.50 per common share.
On February 21, 2013 LINN Energy, LLC, LinnCo, LLC and Berry Petroleum Company announced the signing of a merger agreement pursuant to which LINN Energy and LinnCo will acquire all of Berry Petroleum’s outstanding shares for total consideration of $4.3 billion, including the assumption of debt.
On July 1, 2013, LINN Energy, LLC and LinnCo, LLC announced that they have been notified by the staff of the Securities and Exchange Commission ("SEC") that its Fort Worth Regional Office has commenced a private, non-public inquiry regarding LINN Energy and LinnCo. The SEC has requested the preservation of documents and communications that are potentially relevant to, among other things, LinnCo's proposed merger with Berry Petroleum Company, and LINN Energy and LinnCo's use of non-GAAP financial measures and hedging strategy.
Units of LinnCo LLC dropped from $37.07 per unit on July 1, 2013, to $23.61 per unit on July 5, 2013.
On October 11, 2013, NASDAQ:LNCO units closed at $30.13 per share.
Those who purchased shares of LinnCo LLC have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego